MOUNTAIN VIEW, Calif., May 28, 2015 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) announced it has signed a definitive agreement to acquire certain assets of Quotium (NYSE Euronext: QTE), including the Quotium Seeker® product and R&D team. The additional talent, technology and products will expand Synopsys' presence in the application security market by extending the Coverity® platform with interactive application security testing (IAST) functionality. Seeker complements the Coverity platform's static analysis technology by testing and analyzing applications in run-time, providing customers with a broader solution to detect and remediate security vulnerabilities and better protect business data from application attacks. By accelerating adoption of security testing technologies into the software development lifecycle (SDLC), customers across industries such as financial, health, energy and retail can get to market faster with increased stability and certainty. This is the second announcement Synopsys has made in the past six weeks about extending further into the software security market. On April 20, Synopsys announced that it signed a definitive agreement to acquire Codenomicon. 

"Synopsys' growth strategy is built on three pillars: leadership in EDA, growth in IP, and growth in software application quality and security," said Andreas Kuehlmann, senior vice president and general manager, Software Integrity Group, Synopsys. "The acquisition of Seeker and the Seeker R&D team can drive growth in this third pillar by addressing the web application security needs of the enterprise market. Additionally, Seeker provides our customers with an automated security testing solution that analyzes the application in run-time, complementing the Coverity platform's static analysis testing approach. Using both products will enable customers to feel more secure while improving their time to market."

The Quotium Seeker solution is a pioneering solution for IAST that helps businesses find high-risk security weaknesses while fostering collaboration between development and security teams. The Seeker solution exposes vulnerable code and ties it directly to business impact and exploitation scenarios, providing a clear explanation of risks. Gartner, Inc. positioned Quotium in the 'Visionaries' section of the Magic Quadrant for Application Security Testing based largely on the innovative IAST capabilities available in Quotium's Seeker solution. ^[1]

"We've seen how the Coverity platform finds security defects in the developer workflow and believe Seeker can augment that process into further stages of the agile software development lifecycle," said Ofer Maor, co-founder and CTO of Quotium. "We're looking forward to being part of Synopsys and better helping organizations resolve security issues across the software development lifecycle."

The terms of the deal, which is not material to Synopsys financials, have not been disclosed. The transaction is subject to customary closing conditions.

^[1] Gartner "Magic Quadrant for Application Security Testing" by Joseph Feiman and Neil MacDonald, 1 July 2014.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP, and is also a leader in software quality and security testing with its Coverity® solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest quality and security, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding Synopsys' pending acquisition of certain assets of Quotium, the expected benefits of the transaction, and the expected integration of the acquired product, technology, and personnel. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, and that are outside Synopsys' control. Synopsys cautions stockholders and prospective investors not to place undue reliance on these statements. Such risks and uncertainties include, among others: the ability of the parties to consummate the acquisition in a timely manner or at all; the satisfaction of the conditions precedent to consummation of the acquisition; the effect of the announcement of the pending acquisition on Synopsys' and Quotium's respective businesses, including possible delays in customer orders; Synopsys' ability to operate or integrate the acquired product, technology, and personnel with its own successfully, which may include a potential loss of customers, key employees, partners or vendors; difficulties in entering into new markets in which Synopsys is not experienced; and uncertain customer demand and support obligations for integrated product offerings. Other risks and uncertainties that may apply are set forth in the Risk Factors section of Synopsys' most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

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Editorial Contacts:
Yvette Huygen
Synopsys, Inc.
650-584-4547
yvetteh@synopsys.com

Investor Contact:
Lisa Ewbank
Synopsys, Inc.
650-584-1901

SOURCE Synopsys, Inc.